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Reliance Retail Ventures Ltd, the holding entity of the country's leading retailer Reliance Retail, has appointed former Flipkart executive Jeyandran Venugopal as its President & CEO. In his new role, Venugopal will work closely with Isha Ambani, Executive Director of RRVL and the Leadership Team of Reliance Retail, under the overall guidance of Mukesh Ambani and Manoj Modi. Venugopal, who has 25 years of global leadership experience across retail, e-commerce, technology, and business transformation, will strengthen the retail portfolio, accelerate omnichannel growth, and drive technical and operational excellence across the value chain at Reliance Retail. Earlier, Venugopal worked with Walmart's e-Commerce platform Flipkart, where he most recently served as Chief Product and Technology Officer (CPTO), leading large cross-functional teams across Product, Engineering, Design, Data Science, IT, Security, and Infrastructure. Venugopal, whose career reflects managing ...
E-commerce firm Flipkart on Wednesday said it has reported one of its strongest growth phases in recent years, marked by a sharp rise in customer base, higher order volumes, and deeper participation from Tier-2 and Tier-3 towns. The company said it served over 200 million customers across its ecosystem during the festive season, reflecting its expanding relevance in urban and non-metro India. Overall orders on the platform grew 21 per cent during the festive period, and around 40 per cent year-on-year post-festive period, signalling broad-based consumer confidence and category momentum, the company said in a statement. The festive cycle attracted 101 million customers, with two-thirds of them from non-metro areas - a trend Flipkart said reflects the accelerating shift of smaller towns toward online consumption and category diversification. "The belief that India's consumption story is driven only by metros is outdated. We see multiple Indians shopping on Flipkart: value-conscious .
E-commerce major Flipkart on Friday introduced a Zero Commission Model for all products priced below Rs 1,000. The new model also extends to Flipkart's hypervalue platform Shopsy, where zero commission now applies to all products irrespective of price, according to a company statement. "Under this updated structure, all eligible sellers listing products below Rs 1,000 will not be charged a commission fee. This initiative is aimed at supporting MSMEs, helping them improve customer affordability while managing the cost of doing business more efficiently. "The zero commission model is now extended to all products on Shopsy, irrespective of price, further solidifying its position as a key enabler for sellers targeting the hypervalue segment and enhancing affordability for customers," Flipkart said, adding that the move could reduce the cost of doing business by up to 30 per cent for sellers. Senior Vice President and Head of Marketplace at Flipkart, Sakait Chaudhary, said the MSME sec
The Enforcement Directorate (ED) is learnt to have offered the option of closing a FEMA violation case against e-commerce major Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said. The option was given by the Enforcement Directorate to Flipkart last week under the compounding rules of FEMA (Foreign Exchange Management Act). "ED has given the option of compounding to Flipkart. ED has asked Flipkart to admit its mistake, pay a penalty and dismantle the seller network associated with it," a source told PTI. An email query sent to Flipkart elicited no reply. The ED had also summoned Amazon India to check the status of the company. When contacted, an Amazon India spokesperson said, "We do not comment on ongoing investigations.. A query sent to ED in this matter also received no response. An official of one of the e-commerce firms, on condition of anonymity, said that the compounding option given by ED is to strengthen India'
